• Loans on POSB Credit Cards

    Credit Card BYTES FROM OUR KITCHEN

    POSB or Post Office Savings Bank was established in Singapore in the year 1877. Since its inception, POSB has been providing its customers top notch banking products and financial services. DBS Bank acquired POSB in the year 1998 and since then POSB has been serving its customers under the newly assumed DBS banner. Before the takeover occurred, POSB used to provide its services to Singapore at a significantly low cost. However, DBS has also promised to uphold this POSB tradition and serve its customers in the same way POSB did before the acquisition. The bank has a widespread network of ATMs and bank branches strategically located across the island to serve its customers with utmost ease and convenience.

    POSB Credit Card Instalment Loan

    You can opt for the POSB Credit Card Instalment Loan to get quick cash within your available credit limit with flexible repayment tenures and complete financial control to manage all your finances.

    Features and Benefits –

    • You can choose a loan amount for any amount up to your credit limit.
    • Flexible repayment tenures for the following loan tenures – 12, 24, 36, 48, 60 months.
    • You will charged a 2% processing fee

    Interest Rate Structure –

    For a loan of SGD 5000 with a 2% processing fee –

    Note: The values in the table have been rounded off for the purpose of illustration.

    Loan Tenure Applied Interest Rate Effective Interest Rate Monthly Installment Amount
    12 Months 6.99% per annum 16.20% per annum SGD 446
    24 Months 6.99% per annum 14.66 per annum SGD 238
    36 Months 6.99% per annum 13.96 per annum SGD 169
    48 Months 6.99% per annum 13.50 per annum SGD 134
    60 Months 6.99% per annum 13.14 per annum SGD 113

    Applying for POSB Credit Card Instalment Loan

    You can apply for the POSB Credit Card Instalment Loan by filling the Contact Form available on the POSB official website. The bank will then contact you to provide any further information on this instalment loan and follow through with the application process.

    Loans on POSB Credit Card - FAQs

    1. When will I get the Instant Cash loan amount once I have applied for it?
    2. If your request has been made before 2 PM on all weekdays, you will get the cash on the same day. For requests made after 2 PM on weekdays or weekends (Saturday and Sunday) and on all public holidays, you will receive the cash on the next working day.

    3. Will the Effective Interest Rate include the Processing fee charge as well for the POSB Credit Card Instalment Loan?
    4. Yes. The 2% processing fee charge will be included when your final Effective Rate Interest for your loan tenure is computed for your POSB Credit Card Instalment Loan.

    5. Is there a minimum withdrawal amount for Cash Advance - Instant Cash?
    6. No. There is no minimum withdrawal amount for the cash advance withdrawal. However, you can withdraw a maximum of SGD 3000 per day at any POSB or DBS ATM.

    7. I have lost my Credit Card PIN. How do I make a cash advance withdrawal through an ATM?
    8. You can call the POSB Customer Service Hotline that is available locally as well as overseas to get your Credit Card PIN, after which you can make a cash advance withdrawal through an ATM.

    9. How do I apply for the POSB Credit Card Instalment Loan?
    10. You can apply for the POSB Credit Card Instalment Loan by filling the online contact form available on the official POSB website. The bank will then contact you and provide any additional information on the installment loan and the application process.

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